Ahead of the opening bell, futures linked to the S&P 500 were up 0.6%, while Dow Jones Industrial Average futures gained 0.7%. Nasdaq futures also traded higher, rising 0.5%.
Market participants were also focused on the highly anticipated Wall Street debut of SpaceX, Elon Musk’s rocket and space technology company. The offering is expected to become the largest IPO ever completed, with the company raising roughly $75 billion.
The listing could also push Musk into uncharted territory in terms of personal wealth. Forbes estimates his net worth at $982.6 billion, putting him within reach of becoming the world’s first trillionaire.
If SpaceX shares remain around their offer price after listing, the company would command a market capitalisation of approximately $1.77 trillion. That would place it alongside Broadcom as one of the most valuable publicly traded companies in the world. Nvidia currently occupies the top spot, with a market value of roughly $4.9 trillion.
